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Number of mortgage accounts in arrears falls further; Central Bank

11% of mortgage accounts on principal dwellings are in arrears
11% of mortgage accounts on principal dwellings are in arrears

The number of mortgage accounts on principal dwellings in arrears has fallen for the twelfth consecutive quarter.

According to figures from the Central Bank, a total of 82,092 accounts were in arrears at the end of June.

That represents 11% of all mortgage accounts on principal dwellings, or people's homes.

The decline was of the order of 4.5% on the figure at the end of March.

All maturity categories of arrears, including the over 720 days category, recorded declines in the second three months of 2016.

Over 120,000 mortgage accounts on homes were classified as restructured at the end of June.

Of these, 88% were considered to be meeting the terms of their restructure arrangement.

That is the highest level of adherence to the terms of the restructure agreement since the series began.

There was a decline in the number of buy to let mortgages in arrears across all categories except the 91-180 days category where there was a marginal increase.

A report from the European Central Bank published yesterday indicated that one in five bank loans in Ireland are considered to be non-performing.

It compares to an average across the euro zone of 7%, or about one in 14 accounts.